The Indian Railways’ plan to electrify its entire network in the next four years could potentially expand the order pipeline of capital-goods makers by Rs 40,000 crore, with the national transporter seeking to shrink its operating costs through lower reliance on fossil fuels.

Infrastructure giant Larsen & Toubro (L&T) reported a consolidated net profit after accounting for losses in joint ventures and associates of Rs 2,020 crore in September quarter, up 32 percent increase from the corresponding period last year.

Reliance Infrastructure (RInfra) has emerged as the lowest bidder (L1) with a Rs 1,000-crore bid for an engineering, procurement and construction (EPC) contract at the Kudankulam nuclear power project in Tamil Nadu

The return on equity at Larsen & Toubro (L&T) should climb in the next three years as India’s biggest infrastructure company exits non-core businesses, and enhances the financial performance at a northern power plant for which it has just secured a commercially favourable ruling.

Larsen & Toubro (L&T) expects state-run ONGC to finalise 3-4 projects worth around Rs 5,000 crore before March and would be bidding for them, the hydrocarbon head of the $17-billion engineering major said.